Wipro's new CEO, Srinivas Pallia, his remuneration package, career background, vision for the company, and comparisons with other top-paid CEOs in the Indian IT industry.
Wipro, a leading Indian IT company, announced the remuneration package for its newly appointed CEO and Managing Director, Srinivas Pallia.
Pallia succeeds Thierry Delaporte and is set to receive an annual remuneration package of approximately Rs 50 crore for the next two years.
The package includes a base salary and potential variable pay ranging from $1.75 million to $3 million annually for the next two years. The variable pay has the potential to match the base salary, totaling an additional $1.75 million to $3 million per year.
Pallia's compensation makes him the second-highest paid CEO in the IT industry.
Pallia has been with Wipro for over 30 years, holding various senior positions, including CEO of the Americas 1 division.
He joined Wipro in 1992 and has served as President of Wipro's Consumer Business Unit and Global Head of Business Application Services.
Pallia expresses excitement about leading Wipro's future growth trajectory and acknowledges the company's 78-year history and its team of over 240,000 associates.
He believes Wipro has the right strategy, talented people, and capabilities for future growth.
Pallia succeeds Thierry Delaporte, who stepped down a year earlier than expected. Delaporte's salary package was the highest among the top six Indian IT companies, totaling Rs 82.4 crore annually.
Among other top-paid IT CEOs in India are Salil Parekh of Infosys, C. Vijayakumar of HCLTech, Debashis Chatterjee of LTIMindtree, and Mohit Joshi of Tech Mahindra.
K. Krithivasan, CEO of Tata Consultancy Services, receives a base salary ranging from Rs 10 lakh to Rs 16 lakh per month, with additional earnings tied to company performance.
Name: Srinivas Pallia
Position: CEO of Wipro
Appointment: Newly appointed as CEO, succeeding Thierry Delaporte
Remuneration Package: Annual package of approximately Rs 50 crore for the next two years
Background: Over 30 years with Wipro, held various senior positions, including CEO of the Americas 1 division
Career Highlights: Led strategic markets, served as President of Wipro's Consumer Business Unit, Global Head of Business Application Services
Vision: Excited to lead Wipro's growth trajectory, emphasizes company's history and talented team
Comparison: Among top-paid CEOs in Indian IT industry, second-highest paid after Delaporte